Hans-Jörg Vetter

Hans-Jörg Vetter (born August 22, 1952 in Göppingen ) is a German manager and chairman of the supervisory board of Commerzbank .

Career

From 1969 to 1972 Vetter completed an apprenticeship as a banker at Deutsche Bank in Göppingen . He then specialized in real estate at his employer and switched to the group subsidiary Frankfurter Hypothekenbank in 1976 . In 1985 he moved to the management of the WestLB subsidiary Deutsche Anlagen-Leasing GmbH in Mainz and returned to Deutsche Bank in 1987 as Director of Central Construction Financing and Real Estate .

Vetter was appointed to the board of directors of the Bank für Gemeinwirtschaft AG in 1990 , and from 1995 he was a partner at the private bank MMWarburg . From 1997 to the end of 2000 he rose to the position of Deputy Chief Executive Officer at Landesbank Hessen-Thüringen - again in charge of the real estate sector. His departure from this position is attributed to the fact that he did not receive the chairmanship.

Bankgesellschaft Berlin restructuring

Instead, Vetter had been a member of the board of directors of Bankgesellschaft Berlin since November 2001 , and had been CEO and successor to Wolfgang Rupf since December 1, 2001 . However, with its collapse, Bankgesellschaft Berlin triggered the Berlin banking scandal , which toppled the Governing Mayor Eberhard Diepgen . On behalf of the newly elected Senate Wowereit I , Vetter worked out a restructuring plan for the banking company by the end of January 2002. The state of Berlin invested a further 1.8 billion euros in a capital increase and guaranteed up to 21.6 billion euros for real estate risks.

At the request of the EU Commission , however, holdings and components of the banking group should be sold, and the State of Berlin should surrender its shares by 2007. Under Vetter, the bank company was set up as a regional bank in Berlin and Brandenburg, subsidiaries were sold, the real estate business was restricted to construction financing in the old federal states , and 5000 jobs were cut in the remaining area , according to other sources even around 10,000. Nevertheless, the renovation failed. The group was only saved by a second, unapproved and unapprovable aid of over 1.1 billion euros from the assets of the Investitionsbank Berlin , which was spun off from the Landesbank Berlin with effect from January 1, 2004.

Eventually the bank company was renamed Landesbank Berlin Holding AG . Landesbank Berlin Holding owns Landesbank Berlin AG, which in turn owns Berliner Sparkasse, Berlin Hyp and LBB-Invest. When the reorganization was completed, Vetter extended his contract as CEO of Landesbank Berlin Holding until 2011 at the end of 2006. The sale of the 81 percent state shares in Landesbank Berlin Holding ended in June 2007 with the bid of “today almost unimaginably high” ( FAZ ) 5.3 billion euros from the German Savings Banks and Giro Association .

Landesbank Baden-Württemberg

Since the reorganization of the bank company into Landesbank Berlin, Vetter has been considered a restructuring expert or bank renovator , from November 2008 to August 2009 he was a member of the supervisory board of Hypo Real Estate . Vetter's surprising move from Landesbank Berlin to Landesbank Baden-Württemberg (LBBW), where he was CEO from June 2009 to October 2016, meant the replacement of Siegfried Jaschinski , whose contract was not renewed by the state government of Baden-Württemberg from 2007 after the financial crisis has been.

The Prime Minister of Baden-Württemberg , Günther Oettinger , had previously announced that LBBW would be obliged to limit the annual salary to EUR 500,000 for its board members. In 2008, however, Vetter had earned 1.75 million euros at LBB. Some mass media speculated early on about Vetter's salary. Therefore, the ARD magazine Panorama researched after uncovering irregular salary payments at WestLB and HSH Nordbank in the case of LBBW, for which the state parliament of Baden-Württemberg had decided a 500,000 euro rule:

“The salary of the new chairman of the board, Hans-Jörg Vetter, is well above the 500,000 euro limit. Prime Minister Günther H. Oettinger has already publicly admitted this. "

- Panorama

These payments came under criticism, as did the associated defensive information policy of the state government and LBBW. Government politicians also turned against bonus payments and high salaries for Landesbank board members like Vetter.

Chairman of the Supervisory Board of Commerzbank

After leaving LBBW in 2016, Vetter works as a freelance consultant in Frankfurt.

At the beginning of August 2020 it was reported that he was being discussed as the successor to Stefan Schmittmann for the chairmanship of the Supervisory Board of Commerzbank . On August 3, he was elected as the new Chairman of the Commerzbank Supervisory Board.

Awards

In 2016, Hans-Jörg Vetter was awarded the Order of Merit of the State of Baden-Württemberg .

Fonts

• Four pillars as a foundation . In: Journal for the entire credit system 61, 2008, No. 19, pp. 972–973 ( ISSN  0341-4019 ).

literature

• Hans-Jörg Vetter . In: International Biographical Archive 29/2009 of July 14, 2009.

Individual evidence

1. ↑ Hans-Jörg Vetter. Renovators face big tasks . In: manager-magazin.de, May 8, 2009; Retrieved October 7, 2009.
2. ↑ ^{a b c d} Frank M. Drost: Hans-Jörg Vetter: Der Bankensanierer . In: Handelsblatt.com, May 8, 2009; Retrieved October 7, 2009.
3. ↑ Bankgesellschaft Berlin AG, Annual Report 2003, p. 53 f. and Annual Report 2004, p. 6.
4. ↑ Zawatka-Gerlach, Ulrich: Billions burned, in: Der Tagesspiegel, from February 10, 2011, p. 10.
5. ↑ ^{a b} Hanno Mussler: Hans-Jörg Vetter. A bank renovator for LBBW . In: FAZ.net, May 8, 2009; Retrieved October 7, 2009.
6. ↑ Landesbank Baden-Württemberg: A salary of EUR 500,000 is not enough for a new boss . In: focus.de, May 12, 2009; Retrieved October 7, 2009.
7. ↑ Press release on the Panorama broadcast on August 6, 2009: Landesbanken continue to pay luxury salaries despite state aid ( Memento from April 25, 2016 in the Internet Archive ). In: daserste.ndr.de; Retrieved October 7, 2009.
8. ↑ Tamara Anthony, Christine Adelhardt , Jasmin Yang-Hi Klofta: Panorama No. 715 from August 6, 2009. Landesbanken grave billions: bankers collect, politicians watch . In: daserste.ndr.de (transcript of the TV report, PDF , 60 kB); Retrieved October 7, 2009.
9. ↑ Rudolf Hickel : “I find it simply outrageous, a condition that was carefully considered, now simply to be undermined by all parties who have agreed and to hire a chairman who receives considerably more money and board remuneration than was intended. That is adventurous, that is not acceptable, that is downright damaging to democracy. ”Quoted from: Tamara Anthony, Christine Adelhardt, Jasmin Yang-Hi Klofta: Panorama No. 715 from August 6, 2009. Landesbanken grave billions: bankers collect, politicians watch . In: daserste.ndr.de (transcript of the TV report, PDF , 60 kB); Retrieved October 7, 2009.
10. ↑ Thomas Hartmann-Wendels : "Inquiries about the Landesbanken are undesirable among politicians because they are uncomfortable with these questions. Every state politician knows that the state governments have great responsibility here for everything that has happened. ”Quoted from: Tamara Anthony, Christine Adelhardt, Jasmin Yang-Hi Klofta: Panorama No. 715 from August 6, 2009. Landesbanken grave billions: bankers collect, politicians watch . In: daserste.ndr.de (transcript of the TV report, PDF , 60 kB); Retrieved October 7, 2009.
11. ↑ Steffen Grimberg: Media Policy of LBBW. For invited guests only . In: taz.de, October 7, 2009; Retrieved October 7, 2009.
12. ^ WestLB and LBBW. Politicians castigate the salary of the Landesbank bosses ( memento of the original from August 11, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. . In: sueddeutsche.de, August 7, 2009; Retrieved October 7, 2009. 
13. ↑ FAZ from August 1, 2020, p. 26.
14. ↑ Vetter becomes the new chief inspector. In: tagesschau.de. August 3, 2020, accessed August 5, 2020 .